On July 13, 2001, RONA Inc. acquired substantially all of the home improvement operations of West Fraser Timber Co. Ltd.\'s Revy Home Centres subsidiary, which owned a network of 50 retail stores in the hardware, renovation and building materials industry, for approximately $220 million. With the exception of three pieces of real estate, RONA did not acquire ownership of Revy\'s commercial real estate, but will lease the properties from West Fraser and other landlords. The addition of Revy\'s assets to RONA\'s operations will instantly create Canada\'s leading home improvement retailer.
For the acquisition RONA was represented by Corporate Counsel France Charlebois and by Ogilvy Renault\'s Toronto, Montreal, Quebec and Ottawa offices, with a team comprised of Bogdan Teofilovici, Nicole Sigouin and Laverne Jack (corporate), Norman Lieff (real estate), Darren Noseworthy (intellectual property), Denis Gascon (competition), Jules Charette (tax) and Martin Rochette (benefit and pension plans). West Fraser and Revy Home Centres were represented by Lang Michener\'s Vancouver office by a team comprised of Garry Kehler, Larry Hughes, David Ross, Candice Alderson, Michelle Simpson and Rubina Jamal (corporate), Stacey Handley (real estate), François Tougas and Sandra Knowler (competition)and David McInnes (employment). Cory Sherman from Sherman & Associates represented Revy in leasing matters, and Dan Gold represented Revy in real estate matters.
In order to fund this transaction, RONA obtained various credit facilities up to an aggregate amount of $330 million from a syndicate of banks, led by the National Bank of Canada, acting as agent. For this purpose, France Charlebois and Ogilvy Renault\'s Montreal and Ottawa offices, with a team comprised of Norman Lieff (real estate), Christian P. Sioufi and Martin Thériault (financing)acted for RONA. The lenders were represented by Desjardins Ducharme Stein Monast\'s Montreal office, with a team comprised of Robert J. Phénix, Paule Tardif, Daniel Majeau, Martin Rolland, Patrick Elfassy and Virginie Arbour-Maynard.
As well, RONA raised additional funds through an issuance of debt and equity for an aggregate amount of $100 million to Sociéte générale de financement du Québec, Capital d\'Amérique CDPQ inc. and ITM Enterprises SA. France Charlebois retained Ogilvy Renault\'s Montreal office, with a team comprised of Jean-Pierre Colpron, Sara Joli-Coeur, Eric Stevens and Erik Bégin to represent RONA with respect to the issuance of debt and equity. For general corporate and shareholder matters, RONA was represented by Fasken Martineau DuMoulin LLP\'s Montreal office, with a team comprised of Pierre-Yves Châtillon, Louis Séguin and Jocelyn Lafond. Robert Côté, Senior Legal Counsel to Capital d\'Amérique CDPQ inc. and Bertrand Thibert, Legal Counsel of Société générale de financment du Québec retained Fasken Martineau DuMoulin\'s Montreal office with a team comprised of Daniel Picotte, Claude Gendron, Marie-José Roux-Fauteux, Marie-Josée Neveu and Jacques Bradette. ITM Enterprises SA retained Jean-Baptiste Guillot of Reinhart Marville as counsel and representative and Davies Ward Phillips & Vineberg LLP\'s Montreal office with a team comprised of Sylvain Cossette and Sébastien Savage.